Category Archives: Commercial
Topgolf opened for business on October 28th, after much anticipation and excitement. The venue is 65,000 SF and located near the St. Johns Town Center, just west (and visible) from I-295.
Ikea broke ground yesterday, with a planned opening in 2017. The store will be 290,000 SF and located on 25 acres, with 950 parking spaces. Ikea plans to hire 250 people once the store opens. This will be the 4th Ikea in Florida, and the first in Northeast Florida.
Both of these developments are great signs for the city, demonstrating that the city is now “on the radar” for major retailers who previously overlooked Jacksonville. Topgolf and Ikea chose sites close to the St. Johns Town Center, which is viewed by outsiders as the prime retail hub of the city.
An unnamed company is seeking incentives totaling some $8.3M from the state and city for the proposed construction of a 1 million square foot distribution center that could be built at city owned Cecil Commerce Center in Jacksonville’s Westside submarket.
The project sounds very similar to the Amazon distribution center that was announced earlier this year, which was being referred to as Project Rex when they were at this stage of the process. There is a strong possibility that the company behind Project Vero could be Amazon, who has built more than one distribution center in the same market before. In fact, it is somewhat common for Amazon to build one distribution center to pick, pack and ship smaller items, and another to process larger items, such as furniture, sporting equipment, TV’s and other larger consumer products.
The Cecil Commerce location would be about 23 miles south of the location that was already announced, which is at 12900 Pecan Park Road, right off I-295 and just south of the Airport.
After much speculation, Amazon has made it official- they will be opening a 800,000 SF + distribution/fulfillment center in Jacksonville, which will create more than 1,500 full time jobs. The site, which was sold by Colliers International, is at Duval and Pecan Park roads, visible from I-295. For several months, there has been speculation surrounding a project being referred to as “Project Rex” which was seeking city and state incentives, and described a company that sounded very much like Amazon, without actually naming them.
Plans for Durbin Park, a mixed use development project that is slated for development on land owned by Gate Petroleum, were recently shared with the public. The 1,600 acre project is located St. Johns County, at the southwest quadrant of I-95 and Race Track Road and bordered by the new road, 9B. The plans call for retail, office, hotel and multifamily uses, as well as nearly 1,000 new homes. One of the biggest highlights, which is slated for Phase II, is a Bass Pro Shoppes. Phase I is expected to be complete by 2018, and Phase II by 2019. Gatlin Development will partner with Gate on the retail component of the project, which could account for some 600,000 square feet.
A reception was held in front of the Duval County Main Library this past Thursday, welcoming Wawa to the Northeast Florida community. Wawa’s CEO, Chris Gheysens, was in town and went over Wawa’s plans for Northeast Florida. A large crowd gathered to hear the plans and to get a taste of what is in store. Wawa currently has 4 sites that are in various stages of permitting/approvals, but anticipates closer to 30 long term. Each store costs about $5M and employs 40 people, bringing their total NEFLA investment to $150M and 1,200 jobs. Locations that are currently in the pipeline include:
- Monument Rd and McCormick Rd
- Beach Blvd and Central Pkwy
- Gate Pkwy and Town Center Pkwy
- Blanding Blvd and Filmore St (Orange Park)
Interesting Fact: Wawa is a Native American word for the Canadian Goose, which is the companies logo.
The Colliers International Northeast Florida Investment Services Team just sold Intracoastal Center, a multitenant retail shopping center anchored by Publix Supermarkets, located at the south-east quadrant of San Pablo Road and Beach Boulevard in Jacksonville, Florida. The 155,899 SF shopping center got its name due to its location just west of the Intracoastal Waterway. Other tenants within the center include Planet Fitness, Publix Liquors, Greenberg Dental, H&R Block and a Fifth Third Bank (outparcel). In addition to the retail tenancy, there is also a large medical component, with medical tenants accounting for about 41% of the space, including Family Care Partners, Precision Imaging, DaVita Dialysis and Heartland Rehab.
Colliers International Northeast Florida’s team of Scott Rogers, SIOR, CCIM, Ronald McVay and Ernie Saltmarsh IV exclusively represented the seller, a private local individual, and found the buyer, a New York based family in a 1031 tax-deferred exchange. The buyer plans on an extensive renovation of the center, including the roofs, parking lots, signage and facade. Publix has also submitted plans for the proposed $750,000 renovation of their 62,000 SF store. This is the third Publix anchored shopping center that the Colliers Investment Services Team has sold in the past 8 months.
Town Center Promenade, Core Property Capital’s development across from St. Johns Town Center, will feature Northeast Florida’s first Red Robin Gourmet Burgers, as well as Aldi’s second Jacksonville location. Other retailers who will be joining them include Texas de Brazil, Piada Italian Street Food, Newk’s Eatery, Starbucks, Aspen Dental and Mattress Firm. In addition to the retail, Core plans to build 2 hotels and multifamily along the rear portion of the property.
From Healthcare Design, a publication on just that topic, comes a good article on the trend of hospitals and doctors going to the suburbs. Its all about market share, building a brand, convenience, and a having a presence near where people spend most of their time and where they need a doctor – their homes.
Wawa, the popular PA headquartered gas/convenience store chain, has formally announced that it is going to be entering the Northeast Florida marketplace. The initial plans call for 5-6 stores, and growing to 20-25 over time. Wawa entered the FL market in 2012 in the Central Florida market, and now has 87 locations in the state. The ideal Wawa is 6,000 SF on a 2 acre site and has 16 fuel stations/8 pumps, and located on a high traffic road.
Wawa operates over 700 stores in PA, NJ, DE, MD, VA and FL. It’s differentiator is quality- from made to order food and drinks to clean, well-kept and well-located stores.
Family Dollar is planning a new location on Emerson Street, just east of I-95. The building would be 9,200 SF and located on 2.13 acres.
Dunkin Donuts is remodeling a former Jacksonville Bank, located on Atlantic Boulevard in Landmark Station Shopping Center, close to Girvin Road. The store would seat 32 people and feature a drive thru.
Baptist Health is planning an expansion of their call center space, located in Metro Square office park at Philips Highway and Emerson Street. Baptist wishes to occupy an additional 22,000 square feet of space, which would bring its total footprint in the center to 120,000 square feet.
It has been reported that Gate Petroleum may buy a site in Brooklyn, at Park Street and Forest Street, just off Riverside Avenue. An agreement has been reached between the owner of the property and Gate, however they are still in the due diligence phase.